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Comprehensive Annual Financial Report (CAFR)

According to Harris County's 2006 Comprehensive Annual Financial Report (CAFR) generated and published by the County Auditor's Office, Capital Projects Funds are used to account for bond sale proceeds and other revenues which are used for the construction and acquisition of major capital projects in the county including the Flood Control District, and the county's Sports and Convention Corporation. According to the CAFR, Capital Projects Funds include:
Roads:This fund is used to finance the construction and improvement of roads throughout the County,
Permanent Improvements Fund: The proceeds of funds received from the sale of Permanent Improvement bonds are used for the purchase, construction or improvement of a variety of County owned facilities including office buildings, parks, courthouses, jails, juvenile facilities, and many other public facilities,
Sports and Convention Corporation Capital Projects Fund: This fund is used for the construction of the sports and entertainment complex located on property owned by the County,
Flood Control District Fund: This fund is used for the construction and improvement of flood control and drainage systems across the County,
Reliant Park Fund: This fund is used for the construction and improvement of facilities known as Reliant Stadium, Reliant Exposition Center, the Reliant Park Central Plant and the Astrodome Complex.
Capital assets of the County are defined as assets with individual costs of $5,000 or more and estimated useful lives in excess of one year. The threshold for capitalizing land
improvements, buildings and building improvements and park improvements is $100,000. The capitalization threshold for infrastructure ranges from $25,000 to $250,000, depending on the
type of infrastructure asset.
Based on the above explanation or definition, each of the Capital Project Funds described above will be used to fund or finance the acquisition of assets that will becom…

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